Guide on How To Cancel Purchase You’ll Supposedly Make Using Your Credit Card
CREDIT CARD – Here is a guide on how to cancel a local or international purchase you may with the use of your card.
A huge part of the American populace owns credit cards. Most have applied for it for emergency purposes. These cards can help you from making ends meet to reaching big goals like international travel.
There are a lot of benefits that you can enjoy if you have your own card – as long as you know how to handle it properly and when to use it. Here are some of its advantages:
1. Pay for the amount in installment
Most credit cards allow installment payments. When you will make a big purchase using any of your credit cards, only a small amount of cash can be taken from your budget monthly. It may not bother your entire weekly or monthly budget.
2. Go for cash-less shopping
By having credit cards, you can go to shopping malls and shop although you don’t have some cash with you. Most giant shopping malls offer the so-called “swipe” feature which undeniably makes the customer’s paying procedure more convenient.
3. Avail rewards and promos
Most credit cards are entitled to promos, discounts, and rewards. By using it, you can save some money or obtain some freebies.
4. Helps protect you from fraud
Making online purchases with the use of a credit card is a lot safer than sending money. Through it, the moment you knew that a scam incident is about to happen, you can cancel your transaction.
How To Cancel Purchase Made Using a Credit Card?
Undeniably, there are times when we will be wanting to cancer a certain transaction that involves the use of our credit card. The situations may include:
- the item taking too long to be delivered or to arrive
- unknown purchases are being charged on you
- there are double charges in the purchase made
- seeing signs of fraud or scam
To cancel your purchase with the use of your credit card, you must not directly proceed to the bank. You may follow the steps below:
Step 1 – Reach out to the establishment.
The initial step is to communicate with the establishment or store that sells the product. Most likely, you will be asked of the reason why you wanted to cancel the purchase. This can be stated in their complaint form.
In this step, if the establishment or seller accepts your reason for cancelling the purchase, it can be a good to go that you won’t anymore be charged for the item. Meanwhile, if the seller refuses to reverse the purchase, you may then reach out to your bank.
Step 2 – Bring your complaint to your bank
Contact your bank or visit the nearest branch of the bank where your credit card is under. Report the details of the transaction and request for a chargeback.
The bank will require you some documents in applying for a chargeback. Be sure to have them and submit them to the bank. The proof of evidences that you tried to cancel your purchase by reaching out to the seller are important.
Thank you for visiting Moneysense.co. Rest assured that we will continue to post articles that can help secure you financially.
You may also read – Pros and Cons of Credit Cards.
